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Posted on 03/08/2026 3:37:20 PM PDT by Presbyterian Reporter
Last | 6:25 PM EDT $108.17
up+$17.27 (+19.00%)
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Holy hydrocarbons, Batman. Better go fill up.
It has electrolytes.
Trading started 30 minutes ago. What will the price be tomorrow morning at 8 am or so?
If the price remain this high overnite, the upside could set new records.
It all depends on when crude oil tanker owners are assured that it is safe to cross the Hormuz Strait.
Good point.
It probably goes even further as insurers have to be able to price in increased risk and continue to make a profit.
Rather like what was done to Jimmy Carter, when he confronted Texas oil producers as the Arab Embargo was put into place, and he was assured Texas could ramp up to replace anything the Arabs would not provide.
They essentially lied. Never happened. And the lines at the pump formed.
I filled up this morning before the retail prices surge tomorrow.
Time to cash in my hedges, lol.
I remember silver briefly at 120+ a few weeks ago ... this crude oil price move will be temporary also ...
You dirty capitalist dog.
EVENTUALLY Trump may learn that the Neocons are NOT his ‘friends’, no matter how much they appear to suck-up to him.
Crude is up because Iran was always willing to attack oil shipping in the straits. We just finally quit being extorted.
“They essentially lied. Never happened. And the lines at the pump formed.”
The lines formed because of PRICE CONTROLS, which were held-over from WW3. It wasn’t until Carter and Reagan finally and fully decontrolled the price did the prospect of lines stop.
The question is: Will Trump succumb to the siren song of ‘price controls’ (and the huge lines that go along with them), or does Trump still have enough people WITH A BRAIN left in his inner circle?
“Crude is up because Iran was always willing to attack oil shipping in the straits.”
Crude was pretty damn cheap at $60, which was BEFORE the Neocons started their work on Iran.
Drop some of the EPA and other regs “due to emergency”.
It had nothing to do with price. Scarcity doesn’t care about price. The lines formed at the pumps because the tanks at the gas station were going empty so often.
If you’re in a sunken submarine and the bubble of air you are breathing and depleting shrinks, you can offer it all the money you want and you will still suffocate.
This guy has been my go-to resource for understanding the impact of shipping issues in recent years (like when that freighter went sideways in the Suez canal).
Crude was cheap because Iran was not attacking ships in the straits of Hormuz. Now they will do it. They were always going to do it.
It’s like Chamberlain in 1939 announcing “peace in our time”. Hitler was always going to attack Poland.
Men cry “peace, peace” but there is no peace.
In contract law, force majeure is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, epidemic, or sudden legal change prevents one or both parties from fulfilling their obligations under the contract.
The lawyers are busy.
“It had nothing to do with price. Scarcity doesn’t care about price.”
Too funny!!!!!!!!!!!!
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